The CMA CGM Group has successfully finalised the 100 per cent purchase of Bolloré Logistics.
This deal comes nine months after the group granted a put option to Bolloré Group for the sale of Bolloré Logistics.
The acquisition price is approximately €4.85 billion ($5.24 billion), based on the projected debt and cash at the completion date.
Bolloré Logistics reportedly generated €7.1 billion ($7.6 billion) in revenue in 2022, transported 710,000 TEU of maritime freight and 390,000 tonnes of air freight, and had a storage capacity of 900,000 square metres.
This is the group’s largest purchase since its inception in 1978.
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Rodolphe Saadé, CEO and Chairman of the CMA CGM Group, declared: “The new entity, made up of CEVA and Bolloré Logistics, is the world’s number 5 in its sector. We will now be able to offer our customers a complete range of services and extend our expertise to new businesses.
“On behalf of the Group and my family, I would like to welcome the 14,000 employees who are joining us today. Together, we will combine our talents and accelerate our development.”
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Cyrille Bolloré, CEO and Chairman of the Bolloré Group, added: “This is the beginning of a new chapter for Bolloré Logistics’ employees. I am very pleased that they are joining the CMA CGM Group and the Saadé family.
“They will bring unique expertise and know-how, which have long made the pride of the Group and which will be the pride of CMA CGM tomorrow.”
